A Contract to Build a House Is Deemed Performed When

question 53

Multiple Choice

A contract to build a house is deemed performed when:

• A) there has been substantial performance of the contract.
• B) the house is approved by the city housing inspectors.
• C) the house is approved by the owner's architect.
• D) the house is approved by the owner.

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Definitions:

Years

A period of time consisting of 365 days (or 366 in a leap year), used as a standard unit of time to compare the duration of events or the intervals between them.

Quoted Rate

The stated interest rate or financial charge on a loan or financial product.

Interest

The charge for borrowing money, typically expressed as a percentage of the amount borrowed.